In this alliance, progressive forces are effectively joined with the forces of cognitive capitalism, especially financialization. form, progressive neoliberalism is an alliance of mainstream currents of new social movements (feminism, anti-racism, multiculturalism, and LGBTQ rights), on the one side, and high-end “symbolic” and service-based business sectors (Wall Street, Silicon Valley, and Hollywood), on the other. election results and perhaps some developments elsewhere too. This may sound to some like an oxymoron, but it is a real, if perverse, political alignment that holds the key to understanding the U.S. What his voters rejected was not neoliberalism tout court, but progressive neoliberalism. Nevertheless, Trump’s victory is not solely a revolt against global finance. The surprise is not that they have done so, but that it took them so long. Thumbing their noses at party establishments, they have repudiated the system that has eroded their living conditions for the last thirty years. Those who voted for Trump, like those who voted for Brexit and against the Italian reforms, have risen up against their political masters. Now, however, electoral shockwaves reverberate throughout the world, including in the citadels of global finance. Political systems, by contrast, seemed relatively immune, still controlled by party functionaries and establishment elites, at least in powerful capitalist states like the United States, the United Kingdom, and Germany. Until recently, however, the chief response to the crisis was social protest-dramatic and lively, to be sure, but largely ephemeral. Their votes are a response to the structural crisis of this form of capitalism, which first came into full view with the near meltdown of the global financial order in 2008. In every case, voters are saying “No!” to the lethal combination of austerity, free trade, predatory debt, and precarious, ill-paid work that characterize financialized capitalism today. Although they differ in ideology and goals, these electoral mutinies share a common target: all are rejections of corporate globalization, neoliberalism, and the political establishments that have promoted them. These uprisings include the Brexit vote in the United Kingdom, the rejection of the Renzi reforms in Italy, the Bernie Sanders campaign for the Democratic Party nomination in the United States, and rising support for the National Front in France, among others. The election of Donald Trump represents one of a series of dramatic political uprisings that together signal a collapse of neoliberal hegemony. Nancy Fraser ▪ January 2, 2017Īt a Fight for $15 rally in Chicago, Febru(Bob Simpson / Flickr) In a moment of political upheaval, it is up to the left to reject the false choices on offer and seize upon widespread discontent to redefine the terms of debate.
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